"Vodafone confirms it has filed an application with the Foreign Investment Promotion Board (FIPB) to increase its holding in Vodafone India Ltd (VIL) from 64.38 percent to 100 percent," Vodafone said in a statement.

The telecom major said it has always maintained that it would like to increase its holding in the business and the plan of further investment demonstrates Vodafone's long-term commitment to India.

"The total inflow of foreign investment into India as a result of the proposed transactions will be approximately Rs 10,141 crore. Following the completion of these transactions, Vodafone will also consider providing additional funding to VIL by subscribing to equity shares of VIL," Vodafone said.

The UK-based firm will buy minority investors including billionaire industrialist Ajay Piramal, who holds 11 percent stake in Vodafone India. The remaining 25 per cent interest is with undisclosed minority shareholders, who are understood to include Analjit Singh, chairman of Vodafone India.